Retail Observer

RETAILOBSERVER.COM APRIL 2021 22 cubic-foot oven below is second to none in terms of capacity and combines steam and convection cooking for gourmet quality results. The convection system cooks food quickly and evenly, while steam helps to preserve texture, appearance and taste. The Signature Kitchen Suite 36-inch dual fuel sous vide range just received top-level "Best of IBSx" (the International Builders Show experience) 2021 awards in both the home technology product and indoor product categories. In addition, its 48-inch multi-function cousin received the 2021 Spark Award from the National Association of Home Builders. Visit www.SignatureKitchenSuite.com for more information on the full suite of appliances including the location of specialty kitchen dealers carrying the expanded line. DOMETIC ACQUIRES TWIN EAGLES – A US-BASED MANUFACTURER OF OUTDOOR GRILLS AND KITCHEN SOLUTIONS On February 2, 2021, Dometic entered into an agreement to acquire Twin Eagles, a leading US manufacturer of freestanding and built-in grills and outdoor kitchen solutions for the residential outdoor market. The acquisition strengthens Dometic's offering in the fast-growing residential outdoor area in North America. SUMMARY • Dometic has entered into an agreement to acquire Twin Eagles, a US-based manufacturer and provider of freestanding and built- in grills and outdoor kitchen solutions for the residential outdoor market. • Twin Eagles' annual net sales total USD $34 million with a good operating margin. • The transaction is expected to be cumulative to Dometic's EPS from the start. DESCRIPTION OF TWIN EAGLES • Twin Eagles is a North American provider of freestanding and built-in grills, outdoor refrigerators and other outdoor kitchen solutions for the mid- to high-end residential market. The company's products are sold under the brands Twin Eagles and Delta Heat. The products are available at more than 400 dealers across the US and Canada including several online retailers. • Twin Eagles' annual net sales are USD $34 million, with a good operating margin. • Founded in 1999, Twin Eagles is headquartered in Cerritos, California and has 130 employees. Manufacturing is primarily done in its own U.S. manufacturing facility. BACKGROUND AND REASONS FOR THE TRANSACTION Dometic has identified Residential Outdoor as an area with strong potential for growth. Twin Eagles will be a strong asset in the offering to this growing market which is further fueled by consumers' appetite for staycation and outdoor living. "I am pleased to welcome Twin Eagles and its employees to the Dometic family. Twin Eagles fulfills all of the prerequisites that Dometic has set for acquired expansion, with proven profitable growth, strong market positions and strong management. The acquisition is part of our strategy of broadening our Residential product offering and expanding into new vertical end markets. The customer feedback on our recently launched Dometic MoBar has been extremely positive, and this acquisition will give us a unique position to expand sales in the fast-growing Residential Outdoor market in North America." says Juan Vargues, President and CEO of Dometic. FULGOR MILANO ANNOUNCES EXPANDED PARTNERSHIP WITH PINNACLE SALES GROUP INC. FOR DISTRIBUTION IN NORTHEASTERN UNITED STATES Italian appliance manufacturer broadens successful distribution relationship Italian appliance manufacturer, Fulgor Milano, today announced their expanded partnership with Pinnacle Sales Group Inc. for distribution in the Northeastern area of the United States. Fulgor Milano first joined forces with Pinnacle in 2018 as the brand's distributor in the Southeastern USA. "The Meneghetti Family is delighted to expand its partnership with Pinnacle Sales Group as it increases its distribution footprint of Fulgor Milano to include the traditional Northeastern territory of the United States," said Gianni Meneghetti, CEO of Fulgor Milano. "We look forward to continued growth and success for the Fulgor Milano brand in this important market with our valued partner." Pinnacle's leading infrastructure, extensive network, continuous support and ongoing positive relationship were among Fulgor Milano's deciding factors to extend the partnership with the distribution firm. I N D U S T R Y [ N E W S ]

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